Vincent Pilette: Yeah. So, let me address both and they combine, obviously, in the dynamic. Definitely, the ARPU is still growing year-over-year, but it’s sequentially down, it’s driven by mix. We are not discounting more in each one of the channels. We didn’t see any anything outside of the normal business dynamic that we had seen in prior quarters. And to be honest with you, we love all of our channels, and where we see momentum, we’re going to allocate some of the marketing dollars. In this case, this quarter was maybe a little more allocated towards lower ARPU channels, but very economically positive in the long term. So, we feel good about that. So that’s the entire ARPU dynamic mix shift. When you talk about retention, we were stable quarter-over-quarter.
We’re actually improving in key areas, but we are slightly below our plan, and we were doing real-time allocation of our resources. We’re also preparing to move now to common platform this year is the big rollout of our new product set and merging the different campaigns, understanding the different things, had to be some trade-offs with the day-to day drive of the activity. So, we did not improve as much as we had in our brand, if you want. But we feel really good, and I think as we continue to progress quarter-on-quarter, now, it may not be exactly linear, but feel very good that we will get to our 80%, Hamza.
Hamza Fodderwala: Got it. And just on the topic, I know the main driver for you is to continue to deliver value through upsell and cross-sell. But If I’m — unless I’m mistaking, I don’t think you’ve taken really any price over the last couple of years, despite what has been record-high inflation and some of your peers are raising prices. So, I’m just curious how you’re thinking about maybe perhaps taking more price for the value that you’re delivering going forward?
Vincent Pilette: So, pricing is very strategic to us, right, and we really are pricing for value. So, we constantly innovate, add new features, and then keep our price constant with markets. And when you say we didn’t take price increase, that’s not true. We always price for the value we deliver into the market, adding new features. And I think the growth rate you mentioned, cross-sell/upsell, definitely the cross-sell, meaning, adding more to Cyber Safety, or the upsell towards that membership, it’s two of our five key levers for growth, right? We also, obviously, want to continue to expand. Very pleased to have new customer coming in in last quarter and this quarter. We want to expand and continue to expand with partners to provide Cyber Safety solutions. And we’re looking at the overall, if you want, as a balanced approach, delivering and pricing for them.
Hamza Fodderwala: All right. Okay. I’ll hop back in the queue. Thank you.
Operator: Thank you for your question. The next question comes from the line of Peter Levine with Evercore. Your line is now open.
Vincent Pilette: Hey, Peter.
Peter Levine: Thank you for — hi, how are you, guys? Thank you for taking my question. Maybe just to piggyback off of the first two is, since we last met in November, kind of when did you see these dynamics starts to kind of pop-up? Was it mid-quarter, towards the end of the quarter? Just curious to know when you kind of started to see the mix shift within the channel. And then, what are your assumptions into Q4 into next year as you kind of think about what’s happening today?
Vincent Pilette: Yeah. So, as we reported, Q2, first quarter of sequential growth. As you know, we said we’re finishing strongly in September with good momentum outside of the US and international and new emerging markets. That’s what at Analyst Day we indicated, kind of the profile of customer by those markets, so we can model them. Obviously, they carried into Q3 at a stronger pace than we anticipated. We told you it would slowdown, we didn’t know it was sustainable. We saw it was sustainable and continue to put marketing dollars into those trends. And I think going into Q4, we now have two quarters sequential experience with it, if you want, we plan to continue into Q4. We’ll give more indications when we give the annual guidance of ’25 in May.
Plenty of things can happen between now and then, especially making the progress in retention. In term of retentions, we — actually as I mentioned, we made good progress across the brands. So, I see nothing changing from a fundamental progress and you know that we have the aspiration to bring the Avast brands to closer to where the Norton is, and we’re making good progress there in term of trading off certain initiatives for platform integrations that were more day-to-day through the quarter as we were preparing for integration.
Peter Levine: Thanks. I think one of the comments you made was interesting, that caught my eye was, the record pipeline, I think, for the employee benefit channel. Maybe just if you can double down there and kind of let us know how that cohort of customers vary versus your traditional channel? Maybe talk about what the ARPU effect for those, like the churn for those customers. Just curious anything that you can share when that becomes more meaningful to you guys. Thank you.
